The DOI matches its Crossref record; 82 of the 82 references it cites were found in a registry or an index.
Blockchain technology: Is it hype or real in the construction industry?
Abstract
Abstract The dawn of the 21st century has seen the advent of many technologies targeting commercial and financial sectors. These include Big Data, Internet of Things and FinTechs such as blockchain. Blockchain is a type of a distributed database that is used to replicate, share, and synchronise data spread across different geographical locations such as multiple sites, countries, or organisations. The main property of blockchain is that there is no central administrator or centralised data storage mechanism. Consensus algorithms govern the peer-to-peer decentralised network. Numerous benefits and applications of blockchains have resulted in it becoming popular among a broad spectrum of businesses, but is it the case in the construction industry? Given, the backward nature of the construction industry in digitalisation and its reticence to change, it becomes important to analyse the potential impact of Blockchains as a potential disruptive technology. Although there exists a significant research gap and the potential possibility to test blockchain in the construction sector, the construction industry is historically reported as the second lowest sector to have adopted information technology. This leads to a conundrum whether blockchain is a pure technological hype or whether there is a real potential application in construction. The paper is aimed at critically analysing the application potential of blockchains in construction through a use case analysis and comprehensive literature review to resolve whether it is pure hype or real. The exploration revealed that due to the exponential uses of blockchain, investments involved, and a number of start-up businesses contributing to Industry 4.0, blockchain indeed has a credible potential in the construction industry.
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Citations
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Cited by
Baduge, S. K., Thilakarathna, S., Perera, J. S., Arashpour, M., Sharafi, P., Teodosio, B., Shringi, A., & Mendis, P. (2022) · Automation in Construction · doi:10.1016/j.autcon.2022.104440 · Cited by 1,007
“…been reported in integration with BIM as a procurement solution [220], implementing smart contracts including automated delivery of agreed contracts and enhanced copyright for project documentation [221], construction supply chain management with improved product compliance and authenticity [222].”
MethodA systematic review of a digital twin city: A new pattern of urban governance toward smart cities
Deng, T., Zhang, K., & Shen, Z.-J. (. (2021) · Journal of Management Science and Engineering · doi:10.1016/j.jmse.2021.03.003 · Cited by 532
Public and private blockchain in construction business process and information integration
Yang, R., Wakefield, R., Lyu, S., Jayasuriya, S., Han, F., Yi, X., Yang, X., Amarasinghe, G., & Chen, S. (2020) · Automation in Construction · doi:10.1016/j.autcon.2020.103276 · Cited by 490
Lee, D., Lee, S. H., Masoud, N., Krishnan, M. S., & Li, V. C. (2021) · Automation in Construction · doi:10.1016/j.autcon.2021.103688 · Cited by 428
Smart Contracts in Blockchain Technology: A Critical Review
Taherdoost, H. (2023) · Information · doi:10.3390/info14020117 · Cited by 355
Metadata
- Authors
- Perera, S., Nanayakkara, S., Rodrigo, M. N. N., Senaratne, S., & Weinand, R.
- Venue
- Journal of Industrial Information Integration
- Publisher
- Elsevier BV
- Published
- 2020-03
- Volume
- 17
- Pages
- 100125
- ISSN
- 2452-414X (ISSN-L)
- OpenAlex
- W3000745202
- Cited by
- 506
- References
- 82
- FWCI
- 71.83
- Type
- journal article
- Language
- en
- Open access
- closed
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- Perera, S., Nanayakkara, S., Rodrigo, M. N. N., Senaratne, S., & Weinand, R. (2020). Blockchain technology: Is it hype or real in the construction industry? Journal of Industrial Information Integration. https://doi.org/10.1016/j.jii.2020.100125
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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